Daily Mortgage Rate Update

Daily Mortgage Rate Update

Rates for 9/7/2018 as of 9:00 AM. Rates are HIGHER compared to 9/6  

Here’s why the sudden jump - 2-year Treasury yield jumps to highest level in 10 years after strong wage gains - https://www.cnbc.com/2018/09/07/bonds-and-fixed-income-nonfarm-payrolls-in-focus.html   

Assumptions: 30 day lock, on a purchase loan for a primary home, loan amount of $300,000 (75% loan-to-value) with taxes and insurance and with credit scores of 740+. APR is not the interest rate but reflects the rate with charges that are paid to get a loan. Rates are subject to change without notice. JUMBO pricing is based on 20% down, 6 months reserves, and a 550K loan amount. All other assumptions are the same.
Market - 10 year treasury yield is UP today and at about 2.94%+    

https://www.cnbc.com/quotes/?symbol=US10Y

For more information and the latest market update contact Evan Karr with Priority Home Lending.










Popular posts from this blog

Millennials Prefer Single-Family Homes Too

Millennials Prefer Single-Family Homes Too DAILY REAL ESTATE NEWS | MONDAY, JULY 06, 2015 A growing body of research is discrediting what was previously assumed about millennials' taste for real estate. Many housing analysts said this generation of young adults preferred small, urban walkable corridors, but recent studies are revealing a different preference.  Millennials, just like previous generations, are showing a strong preference for single-family homes, according to a new Housing Insights report released by Fannie Mae's Economic & Strategic Research Group.  Researchers examined the rates at which young households are occupying single-family homes today and also compared it to young adults' preferences prior to the housing crash.  "The analysis reveals that the likelihood of a millennial household occupying a single-family home today is down somewhat from that of young adults at the peak of the housing boom, but is no different than it was for...
Read more

Loan Demand Takes Sudden Leap From Home Buyers

Image
Loan Demand Takes Sudden Leap From Home Buyers July 11, 2018 © REALTOR® Magazine The number of homes for sale is growing in some markets and that may be the main factor behind the latest rise in mortgage applications, economists say. Mortgage applications for both home purchases and refinancings increased 2.5 percent last week on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. The rise was fueled entirely by an uptick in home purchase applications. Mortgage applications for home purchases surged 7 percent in the week and are now 8 percent higher than a year ago, the MBA reports. Abounding housing shortages have mostly kept a lid on any notable increases in home sales this summer, but that gradually may be changing. “Even though inventories continue to decline, they are doing so at a slower pace,” says Danielle Hale, chief economist at realtor.com®. “In other words, while buyers continue to see fewer homes available for ...
Read more

10 Fastest Appreciating Housing Markets in the U.S.

10 Fastest Appreciating Housing Markets in the U.S. Residential home prices are set to appreciate at 4.4 percent nationally, over the next 12 months, according to  Veros Real Estate Solutions'  (Veros) VeroFORECAST that was released on Tuesday. However, housing markets out West are likely to see a much faster appreciation that the rest of the country, the forecast predicted. The latest quarterly forecast covers the 12 months from June 1, 2018, to June 1, 2019, and integrates data from 1,005 counties, 354 metropolitan statistical areas (MSAs), and 13,877 ZIP codes covering 82 percent of the U.S. population. The forecast for Q2 2018 projected that the 10 highest-appreciating markets were concentrated in five states in the West. The forecast also found ten markets that were projected to see a slight depreciation in home values over the next 12 months. All these markets were in the East and South, Veros said. “Washington State and Nevada occupy six of the ten highest-appre...
Read more